Wheatland, Missouri Property Taxes
The median property tax rate in Wheatland, MO is 0.74%, notably lower than both the national median of 0.99% and Missouri's state median of 1.20%. With the median home value in Wheatland at $22,200, the typical annual property tax bill amounts to $158, significantly less than the national median of $2,690. Property taxes in Wheatland are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Wheatland’s property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Wheatland or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wheatland, Missouri Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$164
Ownwell’s Wheatland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wheatland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wheatland to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Wheatland, Missouri
Property taxes in Wheatland, Missouri, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Wheatland is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Wheatland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wheatland estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Wheatland's effective property tax rate to other counties in Missouri and the national median. For comparison, the zip code 65779 has both the highest and lowest median property tax rate of 0.74%. Understanding how these cities compare with Wheatland provides valuable insights into the varying tax landscape across Hickory County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wheatland Tax Rate
0.74%
Average Hickory County Tax Rate
0.74%
Average Missouri Tax Rate
1.20%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wheatland, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65779 | 0.64% | 0.71% | 0.74% | 0.76% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Wheatland, Missouri
In Wheatland, Missouri, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Hickory County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Wheatland, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Wheatland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Wheatland are both $158, found in the 65779 zip code.
Average Wheatland Assessed Value
$22,200
Average Hickory County Assessed Value
$25,410
Average Missouri Assessed Value
$129,505
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wheatland, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65779 | $9,651 | $14,025 | $22,200 | $34,368 | $45,970 |
Source: Ownwell
Property Tax Bills Across Wheatland, Missouri
In Wheatland, located in Hickory County, MO, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the market value, which is then multiplied by the local tax rate to determine the tax bill. Factors that influence the assessed value include the home's size, location, and condition. For homeowners in Wheatland, the median home price stands at $22,200. The property tax rate in this area results in a median tax bill of $158, with the 25th percentile tax bill at $102 and the 75th percentile at $242. The 90th percentile tax bill reaches up to $331. This range of tax bills indicates that while some homeowners may experience relatively low property tax expenses, others may face higher costs depending on the assessed value of their property. Compared to the national median property tax rate of 0.99%, Wheatland's rates can be considered modest, offering some relief for local homeowners.
Average Wheatland Tax Bill
$158
Average Hickory County Tax Bill
$177
Average Missouri Tax Bill
$1,606
Average United States Tax Bill
$2,690
Property Tax Bills Across Wheatland, Missouri
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 65779 | $68 | $102 | $158 | $242 | $331 |
Source: Ownwell